"Live Free Or Move" is, of course, a takeoff on the New Hampshire slogan, "Live Free or Die". We want to live free, natch, but wouldn't it be nice to have an alternative to freedom other than death?
So let's live free. Unless we find we can't. In which case, we should move to where we think we can live free.
Meantime, let's discuss freedom. Political and economic (but I repeat myself).

Tuesday, December 29, 2009

Doug Casey on where to invest your savings

First and foremost, all of your savings, money that you don’t want to lose but need in a liquid form, should be in gold or gold proxies. To a lesser degree, silver as well, silver being a sort of poor man’s gold. That’s number one. You should have a very large position in these two things.

Second, regarding the speculative funds that you have, remember how much money Washington is creating. That’s definitely going to inflate other speculative bubbles to be on the watch for. I think it’s possible to make serious money spotting these early and cashing in before they pop. That’s number two: position yourself for taking advantage of speculative opportunities.

Third and I can’t emphasize this enough is that since what we’re really looking at is a political disaster causing the economic disaster, you must diversify your assets politically. And since the epicenter of this meltdown is the U.S., it’s absolutely vital that you diversify your assets, including the gold and the speculative investments, outside the U.S. That’s number three, but not third in importance there will be foreign exchange controls, and once we have those, your alternatives will be severely circumscribed.